Brent/WTI spread narrows ahead of Seaway pipeline

摘要

New York—ICE July Brent futures settled $2.26 lower at $107.49/b May 17, dragging down NYMEX product futures, while NYMEX crude found underlying support ahead of the Seaway crude pipeline reversal, which is expected to take place this weekend. The price action narrowed the July Brent/ WTI spread to $14.55/b, from a previous settle of $16.56/b.